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Led by ETH and DOT, crypto market pushes higher

2021.10.14 Adam James

The price of BTC, meanwhile, isn’t slouching. 

The global cryptocurrency market capitalization is pushing higher today after increasing by approximately 5.5%. Driving the wider market are ETH and DOT, which are up 10% and 17%, respectively, over the past 24 hours. The price of BTC, meanwhile, isn’t scoffing at a 5% gain.

The cryptocurrency market is a sea of green today. Source: COIN360

Leading headlines today is the news that TradingView has raised nearly $300 million in a funding round led by Tiger Global Management — putting the popular trading platform’s valuation at $3 billion.

Top altcoin gainers and losers: KISHU keeps surging

Yesterday’s big winner, KISHU, is the third top-performing altcoin on OKX today — per the exchange’s default time settings. Indeed, smaller-cap altcoins are playing catch up across the board, with AXS playing a leadership role for large-caps.

KISHU is the third top-performing altcoin on OKX today. Source: OKX

BTC technical analysis: Grinding higher but slowing down

The price of BTC continues to grind higher but could be losing steam as it approaches all-time highs. The four-hour ribbon of exponential moving averages continues to provide support from underneath. Should BTCUSDT cut through the EMA ribbon in a sell-off, it is difficult to imagine the historic wide resistance zone (red) failing to present an area of buying interest.

OKX’s BTC/USDT 4h chart — 10/14. Source: OKX, TradingView

ETH technical analysis: Undergoing sharp recovery

The price of ETH is undergoing something of a V-shaped correction on lower time frames against BTC. ETHBTC has surged through the four-hour EMA ribbon that had been providing resistance, but the trading pair will soon run into an area of expected resistance (blue line) around 0.067 BTC.

OKX’s ETH/BTC 4h chart — 10/14. Source: OKX, TradingView

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Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.